Looming federal spending cuts will hit hospitals where it hurts
(MCT) — WASHINGTON — Hospitals across the country will face significant job losses, service reductions and other belt-tightening measures when President Barack Obama signs the order Friday implementing a series of automatic budget cuts.
The sweeping cuts, known as sequestration, would slash $85 billion by cutting jobs and government programs, ranging from Head Start to defense. It also would impose a 2 percent reduction in Medicare payments to hospitals, doctors and insurers, beginning in April.
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